Yes, it is possible to shrink a PDF file without affecting images and text if the right tool is used. This happened to me when I needed to compress office documents, and one software that I used for the task was PDF Champ PDF Compress. This compressed the document significantly without compromising the clarity and formatting of all elements of the document. The text is still legible and the pictures do not seem blurry even after compressing them. This tells us that the format and the structure of the document are also well-maintained even after being compressed. Visit here: https://www.pdfchamp.com/pdf-compress/